Market in a Minute

Market in a Minute & StatPak November 2017

We profile the most important market indicators every month - contract activity, interest rates, inventory, affordability and direction of the market - in an easy to read and digest summary. It's not just the numbers; it provides context to understand why the numbers are important and what they mean for the future of the market. Published for Northern Virginia, Loudoun County, Washington, DC and Montgomery County.

A quick summary of last month's contract activity is shown below. To see the complete "Market in a Minute" reports for each jurisdiction we cover, click on the corresponding links.

What's The URGENCY Index?

This is simply the measure of the percentage of homes going under contract that were on the market 30 days or less, giving a sense of how quickly buyers feel they must act to put an offer on a home. To see your market's Urgency Index click the link to view the full report.

Northern Virginia - November 2017 StatPak with Contract Snapshot from October 2017

CONTRACTS: Contract activity in October 2017 was up 3.8% from October 2016, and there were increases in all but the lowest of the six price categories. Through the first ten months of 2017, new contract activity is up 2.7% compared to the first ten months of 2016. The average number of days on the market for homes receiving contracts was 55 days in October 2017, down from 59 days in October of last year.

Montgomery County - November 2017 StatPak with Contract Snapshot from October 2017

CONTRACTS: Contract activity in October 2017 was up 1.9% from October 2016, and there were increases in four of the six price categories. Through the first ten months of 2017, new contract activity is down 3.5% compared to the first ten months of 2016. The average number of days on the market for homes receiving contracts was 52 days in October 2017, down from 59 days in October of last year.

Washington D.C. - November 2017 StatPak with Contract Snapshot from October 2017

CONTRACTS: Contract activity in October 2017 was up 2.8% from October 2016, and there were increases in four of the six price categories. Through the first ten months of 2017, new contract activity is up 5.3% compared to the first ten months of 2016. That’s the best in the metro area. The average number of days on the market for homes receiving contracts was 37 days in October 2017, up slightly from 36 days in October of last year.

Loudoun County - November 2017 StatPak with Contract Snapshot from October 2017

CONTRACTS: Contract activity in October 2017 was up 2.4% from October 2016, and there were increase in four of the six price categories. Through the first ten months of 2017, new contract activity is almost unchanged, down just 0.4% compared to the first ten months of 2016. The average number of days on the market for homes receiving contracts was 47 days in October 2017, down from 58 days in October of last year.